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0:00
My name is Professor
Malcolm McDonald.
I'm a Professor of
Marketing at Cranfield,
Warwick, Aston,
Bradford and Henley
Business Schools and
I'm also Chairman of
Brand Finance PLC.
0:16
Recently, a Harvard
Business Review
article spelled out that
most directors in America don't
even understand what the
components of a strategy are.
For my part, I say that
any operating board of
directors that cannot
list in order of
priority its key target markets
and what its sources of
differential advantage are
against each of those
key target markets is
really likely not to
be very successful.
When I talk about key
target markets, I'm talking
about markets in terms of needs,
not in terms of
the products that
they make or the
services they make.
Those boards of directors
that can't answer
those simple questions are
probably spending most of
their time on profit
and loss accounts.
Many of you listening to this
and watching it will
understand that
profit and loss
accounts usually have
one line for revenue and
many lines for costs, and
directors spend most of their
time looking at the costs.
What I want to do today is to
open up the world of revenue.
As you'll see from the title,
it is 'Profit - The Role of
World Class Strategic
Marketing Planning'.
1:38
You will see from this
slide that the agenda
consists of a session on why
we need marketing planning.
A brief session on where to
begin the process and most
of this session will be
about the process itself.
First, however, I
should like to make
just a few preliminary points to
put into context the whole
of the presentation.
